Ukraine: government obliges state coalmines to spend 70% of revenue on wage debt repayment

Ukraine’s Cabinet of Ministers has obliged state-owned coalmines, which have accumulated significant wage debts owed to coalminers, to funnel 70% of proceeds from coal sales into the repayment of the delayed wages.

The relevant decision was made at a government meeting on April 4.

“It is proposed to adopt a protocol decision, which stipulates that by May 1 all state-owned coalmining enterprises must fully switch to servicing by the State Treasury along with the provision that at least 70% of all proceeds from coal sales should be spent on the repayment the delayed wages if any,” Ukrainian Finance Minister Oleksandr Danyliuk said while presenting the draft decision.

According to him, this measure will help eliminate wage debts owed to coalminers. (UNIAN/Ukrainian metal)